Neurocrine Biosciences (NASDAQ:NBIX) Upgraded by Wells Fargo & Company to Overweight

Wells Fargo & Company upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from an equal weight rating to an overweight rating in a report published on Wednesday, Marketbeat reports. Wells Fargo & Company currently has $170.00 price target on the stock, up from their prior price target of $140.00.

NBIX has been the topic of a number of other reports. Mizuho raised their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Wedbush restated an outperform rating and set a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Citigroup dropped their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a research report on Thursday, February 8th. Needham & Company LLC restated a hold rating on shares of Neurocrine Biosciences in a research report on Tuesday. Finally, StockNews.com upgraded Neurocrine Biosciences from a buy rating to a strong-buy rating in a research report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $142.38.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $138.97 on Wednesday. The business’s 50-day moving average is $136.48 and its two-hundred day moving average is $127.62. The company has a market capitalization of $13.83 billion, a P/E ratio of 57.43 and a beta of 0.25. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. Analysts forecast that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,088,965.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Eiry Roberts sold 1,457 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $140.79, for a total transaction of $205,131.03. Following the sale, the insider now owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total transaction of $725,300.00. Following the sale, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The disclosure for this sale can be found here. Insiders have sold 186,994 shares of company stock valued at $25,806,409 in the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $26,000. Lindbrook Capital LLC increased its holdings in Neurocrine Biosciences by 85.0% in the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $31,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $33,000. Finally, Headinvest LLC acquired a new stake in Neurocrine Biosciences in the 3rd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.